Housing 23. The National
Agenda, identifies housing as a priority area. We will
move purposefully to tackle the countrys enormous
housing shortage problem through partnership between
government, housing finance institutions and the private
sector.
20 lakh
additional dwelling units will be built this year with 13
lakhs in rural areas and 7 lakhs in urban areas.
The budget
allocation for the Indira Awas Yojana Programme is being
substantially enhanced to Rs.1600 crore, from Rs.1144
crore in RE 1997-98. The scope of this scheme is also
being widened to include a loan-cum-subsidy programme.
The Urban Land
Ceiling and Regulation Act will be repealed to free the
supply of usable urban land for housing construction.
The capital
base of the Housing and Urban Development Corporation
(HUDCO) is being increased by Rs.110 crore from the
budget so that it may leverage more funds for housing
construction.
I also have some tax
incentives for housing which I will outline later in my
speech.
|